GM Canadian auto sales rise in June on trucks, SUVs

Tammy Harvey
July 5, 2017

Deutsche Bank AG reaffirmed a "hold" rating and issued a $14.00 price objective on shares of Ford Motor Company in a research report on Friday. The stock of Ford Motor Company (NYSE:F) has "Neutral" rating given on Friday, July 29 by Citigroup. Royal Bank Of Canada reissued a "buy" rating and set a $14.00 target price on shares of Ford Motor Company in a research report on Monday, May 15th. Oregon Pub Employees Retirement Fund reported 0.52% of its portfolio in Ford Motor Company (NYSE:F). The Market Capitalization of the company stands at 44.48 Billion. The company now has an average rating of "Buy" and a consensus price target of $39.62. Putnam Ltd Liability Co reported 0.19% of its portfolio in General Motors Company (NYSE:GM). The stock's 50 day moving average is $33.80 and its 200 day moving average is $35.41. The firm has a market cap of $53.68 billion, a P/E ratio of 5.50 and a beta of 1.45.

Ford, General Mot-ors, Fiat Chrysler and Hyundai all reported United States sales drop last month, apparently dragging the industry to its sixth straight month of declining numbers as auto sales slow from last year's record pace.

So the company beats the analysts estimate by $0.04/share showing a surprise of 11.4%. The company generated a return on equity (ROE) of 22.60%.

FCA US LLC, a unit of Fiat Chrysler Automobiles, reported that its US sales for June declined 7% to 187,348 units from 202,421 units last year, reflecting year-over-year sales drop in the Jeep, Chrysler, and Dodge brands.

Coming off a record sales year in 2016, automakers are on pace to book weaker sales for the first half of 2017, something that hasn't happened since 2009. The business's revenue was up 10.6% on a year-over-year basis.

Covering sell-side analysts have recently weighed in on shares of General Motors Company (NYSE:GM).

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The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Parasol Investment Management Ltd Limited Liability Company invested in 960 shares or 0.03% of the stock. A rating of 4 or 5 would represent a Sell recommendation. The ex-dividend date of this dividend was Wednesday, June 7th. Commonwealth Bancorp Of Australia has invested 0.24% in General Motors Company (NYSE:GM). If the average volume is low then the liquidity is low which means it is hard to buy or sell the stock as there are fewer buyers or sellers of the stock. The stock rose 3.03% or $1.06 reaching $35.99. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

In related news, insider Mark L. Reuss sold 75,000 shares of the company's stock in a transaction on Wednesday, May 3rd. Corporate insiders own 1.08% of the company's stock. The disclosure for this sale can be found here. Birinyi Assocs holds 0.14% or 20,500 shares in its portfolio. Following the transaction, the insider now owns 428,411 shares of the company's stock, valued at approximately $4,781,066.76.

Several other hedge funds have also added to or reduced their stakes in the company. Moreover, Gilman Hill Asset Management Llc has 0.01% invested in the company for 15,977 shares. The firm owned 7,618,441 shares of the auto manufacturer's stock after buying an additional 246,770 shares during the period. Arrowgrass Capital Partners Lp acquired 43,445 shares as Ford Mtr Co Del (F)'s stock declined 13.59%. Norges Bank bought a new position in General Motors Company during the fourth quarter worth $300,495,000. Automakers say customers are buying SUV's and trucks but not cars.

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